Used as a key intermediate in the synthesis of selective serotonin reuptake inhibitors (SSRIs) and other central nervous system (CNS) active pharmaceuticals. Its structure allows for functionalization into polycyclic amine compounds that exhibit antidepressant and anxiolytic activities. It is also employed in the development of neuroimaging agents due to its ability to cross the blood-brain barrier. Additionally, it serves as a building block in the preparation of novel kinase inhibitors for oncology research.